You may wish to either delete or offer to company , they might give you some free stuff ?
.....live and learn , it happens..
If you do not attempt to make any $ at all then it's fair use. And by 0$ it means 0$..
You are to be commended for realizing this mistake. It's part of the learning process, and many of us fell into the same trap when we were new at domaining.
1. You can apologize and offer to transfer the domain to them for free. If they don't want it, delete it from your account. BUT keep the email you send to them for YOUR protection (to show "good faith").
2. Another option: ask permission from the company if you could be an affiliate. If they say "no," go to option #1.
3. If they say "yes," then follow their terms of service to the letter.
Thanks to all of you for replying. And thanks for trying to help me instead of rubbing in how stupid I was. I think most other forums would have rewarded my question with lots of bashing and little advice..
It's been a lesson for sure. Next time I'll think a little harder.
I contacted the company and let them know that if they'd like to gain control of the domain they could have it without reimbursing me. So far I didn't get an answer.
Do you have any input on how long I should wait for a reply before I ask the registrar to delete the domain?.
Also, is dropping the domain at this point even possible without a problem? I recall reading somewhere that a domain goes into a 60 day lockdown period after registering it...
If you are going to just delete the domain .......contact your registrar straight away , you could also write a letter to the company and keep a copy if you are intending to hand it over , at least then you would have proof of goodwill on your side , if you only ever reg one bad domain and learn you have perhaps done better than most..
If you make it clear that you are not the official website and you are not trying to trick the visitors, I don't see a problem in using their name.
For instance if the company was apple and you registered appleworld.com, I think you have every right to put there a fan site with reviews, and news of current products...
Sorry it's a little late but actually contacting the company is the worst thing you can do. Your now on their radar. Even by saying,it's yours if you want it, it's still saying, I realize this is yours, even if you any legal obligation to it at all you just gave it away.
Do what you can to delete it at this point...